The spiritual successor to the Toyota Supra will reportedly pair a BMW engine with a Toyota-developed hybrid system.
BMW's half of this partnership has already been spied with the classic long bonnet, short tail proportions and a folding fabric roof. Rumours indicate that BMW will market this car as the Z5.
According to AutoExpress, Toyota's new sports car will feature a longer wheelbase than the Z5. This will not only provide an extra dash of differentiation to the BMW, but also allow the Toyota to positioned well beyond the existing 86 coupe.
The British magazine's sources indicate that both vehicles will have a BMW engine under the bonnet powering the rear wheels via a dual-clutch transmission. Both the Toyota and BMW will also feature a lithium-ion battery pack feeding into Toyota-designed electric motors that drive the front wheels.
Modern weight saving techniques should see both vehicles tip the scales at less than 1400 kilograms.
Earlier reports had suggested that the Z5 would be powered by a choice of turbocharged inline four- and six-cylinder engines, with the hybrid variants reserved for Toyota.
The BMW and Toyota sports cars will have their own designs, with the Toyota's styling derived from the FT-1 concept. The cars won't debut until some time in 2017, at the earliest.
MORE: Toyota Supra news